NSW Surcharge Purchaser Duty: Exemptions For Foreign Buyers From Selected Nations

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Otto Dargan

Foreign buyers who purchase residential-related property in NSW are subject to a surcharge purchaser duty of 8% in addition to any transfer duty; however, this policy no longer applies to foreign individuals from New Zealand, Finland, Germany, South Africa, Norway, Switzerland, Japan and India. This change is effective immediately, due to international tax agreements entered into by the Federal Government.

Surcharge Purchaser Duty Refunds

If you are a citizen of New Zealand, Finland, Germany, South Africa, Norway, Switzerland, Japan and India, you may be eligible for a refund of any surcharge purchaser duty you paid on or after 1 July 2021. Revenue NSW will be actively identifying eligible customers and will personally contact you to arrange the refund payment. For more detailed information, please visit the official NSW Government website.

Who Is Exempt From Paying Surcharge Purchaser Duty?

Surcharge purchaser duty is not applicable if you fall into any of the following categories:
  • Citizens of Australia, New Zealand, Finland, Germany, South Africa, Norway, Switzerland, Japan and India
  • Non-individual entities such as corporations, trusts and partnerships from Australia, New Zealand, Finland, Germany or South Africa
  • People who are ordinarily residents of Australia
  • Exempt permanent residents
  • Holders of Partner (provisional) visas (subclass 309 or 820) who meet the residence requirements*
  • Holders of a Retirement visa (subclass 405 or 410) who meet the residence requirements*
*Requirements: live in the property you are acquiring continuously for at least 200 days within 12 months from the date of the agreement or contract; live there as your principal place of residence; buy as an individual, not as a company or trust.

Looking To Purchase Property In NSW As A Foreign Buyer?

Our team of seasoned mortgage brokers specialises in assisting foreign buyers just like you. They are dedicated to guiding you through the entire process, ensuring your property dreams become beautiful realities. Discover how we can help you secure the best interest rates, terms, and conditions. Enquire online for free or call us on 1300 889 743 (or +61 2 9194 1700 for callers outside Australia).

About the Author

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Otto Dargan

Otto Dargan is the Founder of Home Loan Experts. He is involved in strategic and operational matters. He utilises his time in seeking... [Read More]

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